Aptos co-founder and CEO Mo Shaikh steps down to ‘start new chapter’
Mohammad Shaikh has resigned as CEO of Aptos Labs to pursue new opportunities, with co-founder Avery Ching appointed as the new CEO. Shaikh co-founded Aptos Labs in 2021 and played a key role in launching the Aptos mainnet in October 2022, raising $400 million and forming partnerships with major companies like BlackRock and Google. He expressed confidence in the team's future and will remain as a strategic adviser. Ching plans to expand the builder community in regions including India and South Korea, while Aptos aims for significant technical innovations by 2025. The Aptos blockchain, a layer-1 proof-of-stake platform, utilizes the Move programming language. Following the announcement, the APT token experienced a 4% decline but maintains a market cap of $6.4 billion.
